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>The unemployment benefit extension and hack (unemployment + $600) was the real critical mistake that we'll spend a long time fixing. What was the alternative?
by coffeevradar 6y ago
>The unemployment benefit extension and hack (unemployment + $600) was the real critical mistake that we'll spend a long time fixing.
What was the alternative? Existing unemployment benefits are insufficient for households to pay bills and the PP program at best would have saved a small portion of the overall jobs lost.
- bpodgursky 6y agoIdeally, basically what Japan is doing. Don't try to discriminate on company, don't make it complex, just cut a check to keep employees on the payroll. There's no dumb drama over "who gets the loans", if all employers do.
- Izkata 6y agoThe extra $600 being a flat country-wide amount was the mistake here: https://www.cnbc.com/2020/04/22/she-got-a-paycheck-protection-loan-her-employees-hate-her-for-it.html https://www.cnbc.com/2020/04/22/she-got-a-paycheck-protectio...